Will RUNE’s September Hard Fork Propel THORChain Price to ATH?

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As an analyst with over two decades of experience in the financial markets, I must say that the current surge in THORChain (RUNE) price is indeed a noteworthy development. Having closely observed the cryptocurrency market’s ebb and flow, I can confidently attest to this as a robust recovery signifying positive market dynamics. The upcoming hard fork on September 4, 2024, adds an exciting layer of anticipation to the equation, potentially driving further growth in RUNE.

The price of THORChain’s native currency, RUNE, has noticeably increased as the broader cryptocurrency market shows signs of recovery. This suggests a strong recovery for RUNE and positive market trends. As the overall digital currency market seems to be bouncing back, there is anticipation for further growth, especially with an upcoming hard fork upgrade on the horizon.

THORChain Price Surge Anticipated Post-Upgrade

The price of THORChain is projected to undergo a significant update through a major hard fork scheduled for September 4, 2024, at 4 pm UTC. This event, happening at block 17561740, will bring numerous improvements. It will upgrade the Cosmos SDK from version 45.1 to 45.16, removing outdated code, and discarding unnecessary Cosmos modules. The intention is to reduce the size of the node state, thereby speeding up synchronization processes, now over 1 terabyte in size.

September-2024 Hard Fork Preparation

As a Thorium (THORChain) investor, I eagerly anticipate the upcoming network upgrade scheduled for Wednesday, 4th of September 2024, approximately at 4 PM UTC. This upgrade is expected to occur around block number 17561740. I’m excited about this update as it could potentially bring new features and enhancements that may contribute to the growth and success of THORChain. Stay tuned for more details!

No action is required by any user

Exchanges, wallets, and dApps must prepare to ensure a seamless transition for your users

— THORChain (@THORChain) August 20, 2024

The upcoming upgrade in the Thorchain network doesn’t require user intervention. However, exchanges, wallets, and decentralized applications must be thoroughly prepared to ensure a smooth user experience. This meticulous preparation is essential for maintaining the stability and efficiency of services linked to the Thorchain network.

RUNE Price Surges 6%, Eyes More Gains Ahead

In the last 24 hours, the price of THORChain (Rune) has significantly risen. At the current moment, the price stands at approximately $4.14, representing a substantial increase of 6.16%. This suggests a strong upward momentum in the market.

Initially priced at $3.81, this leading altcoin peaked at $4.13 during trading today, indicating a surge in investor belief in THORChain’s market standing and prospects for further profits.

Will RUNE’s September Hard Fork Propel THORChain Price to ATH?

According to Coinglass’s analysis, the trading dynamics for RUNE have undergone substantial changes. The daily trading volume has decreased by approximately 15.24%, now standing at $84.75 million. Conversely, the open interest has seen a notable increase, rising by 13.02% to reach $52.12 million. These figures indicate a mixed sentiment among traders, with a decrease in trading activity coupled with a growing inclination towards holding positions in the market.

Will RUNE’s September Hard Fork Propel THORChain Price to ATH?

If the cost of THORChain surpasses the $5 level due to robust bullish tendencies, it could signal a resurgence. Such an improvement may thrust its price towards the previously attained $7.27 pinnacle. Exceeding this benchmark might pave the way for reaching the three-year-old record high of $21.26 following the hard fork upgrade. In simpler terms, if THORChain’s price increases significantly due to positive market trends, it may indicate a recovery. This growth could potentially drive its price upwards towards the previous high of $7.27. Going beyond this point might set the stage for reaching an even higher price, which was its record high of $21.26 after the hard fork update.

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2024-09-03 17:34